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KYC Wrench Risk.
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KYC Wrench Risk.

Bitcoin - The Currency of the Internet·UnorthodoxShot·6 months ago
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KYC Wrench Risk.

Hi all. I need some explanation on the risk of KYC.

I’m sure we’ve all seen the recent kidnappings in France due to governments leaking KYC data showing purchases etc. obviously is exchanges like Coinbase and finance face the same data leaks, it put you at risk for a wrench attack because they have your physical location.

My question is, how do the attackers even know you have access to the wallets you withdrew to?

Let’s say I purchase 100BTC on Coinbase and withdraw to cold storage. How do the attackers even know I have access to that cold storage wallet? Seems like a gamble? I could’ve also sent it to the wrong address.

Also, if I go Coinbase -> Cold storage -> new wallet -> new wallet how would they know? Especially if the public key hasn’t been exposed showing all wallet addresses for the final wallet it resides in

submitted by /u/UnorthodoxShot
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